Outseer Completes First Half of 2021 with Increasing Momentum Including Key Executive Appointments, Continued Product Innovation, and Outsized Growth in 3-D Secure Transactions
Outseer, the leader in payment authentication and monitoring solutions, announced today results from the first half of 2021, including monumental growth in 3-D Secure transaction volume, the hiring of key executives, and the launch of significant product updates including EFTPOS certification.
In June, RSA announced the transition of its Fraud & Risk Intelligence business into Outseer, a new standalone company serving a worldwide customer and partner community. The new organization, defined by self-directed company management and a modern corporate identity, is the culmination of decades of science-driven innovation in anti-fraud and payments authentication solutions. The company launch was well received by the press and analyst community, with notable coverage in TechCrunch, ZDNet, MergerMarket, and over 20 additional outlets. Also in June, KuppingerCole named Outseer as an Overall Leader in their published report detailing Fraud Reduction Intelligence Platforms.
Supporting its direction as an independent business, Outseer appointed several respected veterans from the fraud prevention and digital identity space to its leadership team, including Ellen Purdy (CFO), Armen Najarian (CMO), Dan Welch (VP of Global Client Services) and Leah Evanski (Global Head of Business Development & Strategic Alliances). Together, these executives bring a wealth of experience and success to Outseer, positioning the company for continued profitable growth and innovation.
The Outseer Q2 Fraud & Payments Report, launched in July, detailed a massive increase in both global cyber attacks – over 50,000 documented – and adoption rates of 3-D Secure 2.0, with transaction volume growing by a staggering 1,667% year-over-year (Q1 2020 vs. Q1 2021). As 3-D Secure has become the definitive go-to payment authentication method, Outseer released critical updates for this product in July, improving operational efficiency and management of European regulation requirements.
The company also continues its commitment to product innovation as announced in the Outseer Summer ‘21 Release. Among the many innovations shipped during the first half, Outseer 3-D Secure has been certified by EFTPOS, an Australian card network and scheme, to protect Card-not-Present transactions over the EFTPOS network.
“In six short months, we have substantially transformed Outseer into a recognized industry leader. I could not be prouder of everyone at Outseer who delivered on our promise to liberate the world from transactional fraud for our customers, partners, and investors across the globe,” said Reed Taussig, CEO of Outseer. “With a successful company launch and a fully realized leadership team, we have truly set ourselves up for success. Outseer is poised to capitalize on the widespread demand for payments authentication and fraud prevention solutions across the globe.”
Outseer, an RSA company, empowers the digital economy to grow by authenticating billions of transactions annually. Our payment and account monitoring solutions increase revenue and reduce customer friction for card issuing banks, payment processors, and merchants worldwide. Leveraging 20 billion annual transactions from 6,000 global institutions contributing to the Outseer Data Network, our identity-based science delivers the highest fraud detection rates and lowest customer intervention in the industry. See what others can’t at outseer.com.
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